Big outflows hit Ethereum ETFs as crypto ETF demand tilts back to bitcoin

Recent flow data show a growing split within the crypto ETF universe: investors are cautiously adding to bitcoin while pulling money from Ethereum products. On October 29, the U.S.-listed spot Ethereum ETF “ETHA” saw a one‑day net outflow of roughly $72 million, the largest withdrawal among major crypto ETFs that session. By contrast, the group of spot bitcoin ETFs still managed to post a small aggregate inflow, underscoring how demand is rotating back toward the original cryptocurrency.

Analysts point to a mix of macro uncertainty and doubts about Ethereum’s standalone growth story. With staking yields, transaction fee revenues and on‑chain activity proving volatile, many institutional investors appear more comfortable treating bitcoin as their core crypto allocation. At the same time, some market participants caution that such a large single‑day exit from ETHA may reflect portfolio rebalancing rather than a decisive vote against Ethereum. Whether this marks the start of a lasting preference for bitcoin‑only exposure—or just a temporary repositioning—will depend on how flows evolve over the coming weeks.